Enterprise Risk Management from the General Insurance Actuarial Perspective

2008 ◽  
Vol 14 (3) ◽  
pp. 433-525 ◽  
Author(s):  
M. H. Tripp ◽  
C. Chan ◽  
S. Haria ◽  
N. Hilary ◽  
K. Morgan ◽  
...  
Keyword(s):  
Risk Management ◽  
Best Practice ◽  
Corporate Strategy ◽  
Enterprise Risk Management ◽  
The United Kingdom ◽  
General Insurance ◽  
Enterprise Risk ◽  
On Line ◽  
The Subject ◽  
Future Work

ABSTRACTThe authors have reviewed over 60 texts on the subject of Enterprise Risk Management (ERM). In this paper they set out a summary of ERM based on three of those sources, selected for their relevance and breadth of view. The paper observes that the approaches described vary widely in nature. A separate ‘on-line” source is provided, which summarises key readings from the 60 texts. Combining findings from these texts with the authors' own experiences, the paper suggests some best practice checklists, designed to enable organisations to take stock of their current ERM frameworks. It discusses other aspects of ERM for practitioners, including extreme events, opportunity management and the link with corporate strategy. The paper looks at immediate and longer-term implications for actuaries in the United Kingdom, and then poses questions about future professional development and education. It suggests an emerging role for the ‘ERM actuary’, and, finally, it suggests future work to progress the development of ERM and the actuaries' role.

scholarly journals Risk Management Support and Organizational Performance: The Role of Enterprise Risk Management as Mediator

2017 ◽  
Vol 2 (2) ◽  
pp. 43
Author(s):  
Azreen Roslan ◽  
Nur Diyana Yusoff ◽  
Hayati Mohd Dahan
Keyword(s):  
Risk Management ◽  
Organizational Performance ◽  
Best Practice ◽  
Enterprise Risk Management ◽  
Senior Management ◽  
Mediating Effect ◽  
Management Support ◽  
Enterprise Risk ◽  
Economic Reality

Risk is inherent in all parts of the organization and if it is not efficiently managed by the senior management it will affect the confidence and expectations of the stakeholders. Enterprise Risk Management (ERM) is said as a best practice technique to evaluate and manage all these risks in this new economic reality. Therefore, organizations practicing ERM are more prepared in managing the feasible threats. In fact, there is a general consensus by scholars and researchers that organizations practicing ERM will improve the organizational performance. However, empirical evidence regarding this matter is still considered scarce. As such, the purpose of this paper is to investigate the mediating effect of ERM on risk management support and organizational performance among public listed companies.

The Intervening Effect of Corporate Strategy on the Relationship between Transformational Leadership and Enterprise Risk Management Adoption by Commercial State Corporations in Kenya

2022 ◽  
Vol 6 (1) ◽  
pp. 26-42
Author(s):  
Disterius Ondieki Nyandika ◽  
◽  
Paul Machoka ◽  
Michael Ngala ◽  
◽  
...  
Keyword(s):  
Risk Management ◽  
Transformational Leadership ◽  
Corporate Strategy ◽  
Strategic Plan ◽  
Business Environment ◽  
Enterprise Risk Management ◽  
Mediation Effect ◽  
Primary Data ◽  
Enterprise Risk ◽  
The Relationship

In today’s dynamic and competitive business environment, organizations are adopting the enterprise risk management framework to address the inadequacies in risk management in entities. Operating in today’s dynamic and competitive business environment organizations are faced with ever evolving risks as they implement their strategic objectives in order to create value. This study examined the intervening effect of corporate strategy on the relationship between transformational leadership and enterprise risk management adoption. This research adopted a positivist research philosophy and cross-sectional survey design approach. The target population comprised all the Commercial State Corporations in Kenya listed in the register of State Corporations Advisory Committee (SCAC) as at January 2021. The unit of analysis was the 52 Commercial State Corporations and unit of observation was top management of each entity. The study used primary data which was collected through structured questionnaires. The Statistical Package for Social Sciences (SPSS version 22) was used in regression modeling for prediction and causal inferences between study variables. The study findings indicated a partial mediation effect on the mediating role of corporate strategy on the relationship between transformational leadership and ERM adoption. The objective was achieved. The study recommends that the commercial state corporations should anchor the ERM adoption activities and other management programmes in the corporate strategic plan for effective execution. In addition, the corporate strategic plan should be cascaded to stakeholders to enhance ownership and design policy to ensure the implementation of the corporate strategic plan is effectively monitored. Keywords: Corporate Strategy, Transformational Leadership, Enterprise Risk Management & Commercial State Corporations

scholarly journals The risk-management theory in modern economic conditions

2019 ◽  
Vol 110 ◽  
pp. 02040 ◽  
Author(s):  
Ajdar Ajupov ◽  
Anna Sherstobitova ◽  
Svetlana Syrotiuk ◽  
Alexey Karataev
Keyword(s):  
Risk Management ◽  
Financial Risk ◽  
Enterprise Risk Management ◽  
Management Theory ◽  
Economic Conditions ◽  
Economic Relations ◽  
Risky Investment ◽  
Enterprise Risk ◽  
Modern Economic ◽  
The Subject

The article reveals features of risk-management theory in environmental enterprise. Risk management is considered according to the system approach. The interaction of the managed and managing subsystems and their cooperation with the external environment are being studied and analyzed. The object of management is a risky investment in the implementation of economic relations between economic entities. The subject of management is a team of specialists. They provide purposeful action on the controlled objects through various techniques and methods of financial risk management.

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